Mermaid Marine Australia (MRM)

Shares / Stock Code

MRM

Stock Exchange / Sharemarket

Australian Securities Exchange

Mermaid Marine Australia (MRM) provides a diverse range of marine-related services to major oil and gas exploration and production companies. MRM operates an extensive charter vessel fleet including tugs, pipe-laying platforms, supply vessels and diver support vessels. MRM also provides slipway and onshore support facilities. The company's supply bases are located in Dampier and Broome. Vessel operations are responsible for the bulk of the company's revenue and earnings. In 2007 MRM opened an office in Singapore.

MRM was created in the early 1980's, when the company purchased its first supply vessel. The company expanded rapidly through the 80's and 90's and currently has a substantial specialised fleet. MRM recently completed an extensive slipway and onshore support facility at Dampier. MRM listed on the Australian stockmarket (ASX) in 1999.

MRM's strategy is to shift its boat services from primarily on-demand to long-term contracts. This aim has lead MRM to develop a long-term contract with the Port Authority of Singapore.

Major customers include Woodside, BHP Billiton, Port Authority of Singapore and Clough Engineering. MRM competes with other tug and support vessel contractors. Its subsidiaries include Mermaid Marine Group Pty Ltd, Mermaid Marine Vessel Operations Pty Ltd, Mermaid Marine Pty Ltd, Mermaid Marine Offshore Pty Ltd, Mermaid Marine Charters Pty Ltd, Mermaid Supply Base Pty Ltd, Dampier Stevedoring Pty Ltd, Mermaid Manning and Management Pty Ltd, Mermaid Labour and Management Pty Ltd and Mermaid Marine Asia Singapore Pte Ltd.

Mermaid Marine Australia (MRM) Products and Services

  • Provides diverse range of marine related services to major oil and gas exploration and production companies.

Mermaid Marine Australia (MRM) Locations and Subsidiaries

Mermaid Marine Australia Head Office
Eagle Jetty, 20 Mews Road, FREMANTLE,
WA, AUSTRALIA, 6160
Phone: (08) 9431 7431
Fax: (08) 9431 7432

Mermaid Marine Australia (MRM) Share Price

Submitted by ASX Listed Company on 13 May, 2010 - 16:21

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